In the fourth quarter of 2018, new business filings increased more than 10 percent, compared to the year before, according to Tennessee Secretary of State Tre Hargett. This marks the fourth consecutive quarter of new business increases exceeding 10 percent in the state, and 29 consecutive quarters of positive year-over-year growth in business filings.
A total of 42,914 new business entities were established in Tennessee in 2018, according to data from the Secretary of State’s Division of Business Services.
“Business is booming in Tennessee, and the momentum of the past year is expected to continue as we head into 2019,” Hargett said. “We have worked hard to create a business-friendly environment in Tennessee, where businesses can thrive and grow, and that is reflected in this data.”
Statewide, the strongest growth was within domestic limited-liability corporations – or LLCs – with an increase of 13.4 percent over the fourth quarter of 2017.
Also, 12.6 percent fewer companies dissolved in 2018 than in the previous year.